Chinese `loan scam´ worth US$16m leads to 250 arrests
(WorldNews China)

Police in eastern China have cracked down on an illegal moneylending ring, arresting nearly 250 people said to have lured thousands of victims across the country into a microcredit scam that involved over 100 million yuan (US$15.6 million), a report says. A total of 246 people were detained in the city of Taizhou in Zhejiang province on Saturday – the biggest gang of its kind that authorities in the province have uncovered, according to the police, news website ThePaper.cn reported on......